Tsubakimoto Chain Co. announces an Equity Buyback for 840,000 shares, representing 2.22% for ¥3,400 million.
October 31, 2019 at 02:00 am
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Tsubakimoto Chain Co. (TSE:6371) announces a share repurchase program. Under the program, the company will repurchase 840,000 shares, representing 2.22% of its share capital, for ¥3,400 million. The company will repurchase its shares in order to enable the implementation of a flexible capital policy in response to changes in the business environment. The program will run until November 29, 2019. As of September 30, 2019, the company had 37,849,411 shares outstanding (excluding treasury shares) and 431,982 shares in treasury.
TSUBAKIMOTO CHAIN CO. is mainly engaged in the manufacture and sale of chains for power transmission and transportation use, variable speed reducers, linear working units, timing chains, power drive chains, conveyors and transportation systems. In addition, the Company is also involved in the manufacture, sale, research and development of automotive parts and material handling equipment. The Company operates through four segments: Chain, Precision Equipment, Automobile Parts and Material handling segments. The Chain segment offers standard form chains, oil-free chains, powerful chains, standard conveyor chains and free flow chains, as well as cable chains and cable accessories, among others. The Precision Equipment segment provides gear motors, gear-boxes, tensioners, guides, levers, sprockets, among others. The Automobile Parts segment provides tensioners, guides, power drive chains and others. The Material Hnadling segment provides systems for the logistics industry and others.
TSUBAKIMOTO CHAIN CO. 
